Estate planning provides a number of tools allowing effective control over the succession of your wealth. These tools include Powers of Attorney, binding/non-lapsing nominations (superannuation), Wills and Testamentary Trusts.
There are also a number of strategies which can be implemented to minimise the impact of taxes on assets inherited by beneficiaries (e.g. partner, spouse and children) and to protect beneficiaries from potential claims by creditors, family law proceedings or sometimes themselves!
Used wisely, these tools can ensure your assets are distributed according to your wishes in the event of your death or incapacity to make significant decisions about life and should be considered as part of your wider financial plan.
Our Advisers are able to assist you by providing strategic advice and working in partnership with your solicitor to draft Wills and Powers of Attorney which compliment your financial situation and objectives. If you don't already have a solicitor, don't worry - we would be pleased to refer you to someone with the requisite skills and experience. We are also able to manage the process from start to finish on your behalf.
What is a Testamentary Trust and how could including one in your Will improve asset protection and tax efficiency for your beneficiaries? Click here to find out.
Are 'do it yourself' Wills or cheap Will kits a valid consideration? Click here to find out.
Tilea Wealth Pty Ltd t/as Tilea Wealth Financial Services is an Authorised Representative of
Consultum Financial Advisers Pty Ltd ABN 65 006 373 995 AFSL 230323.